The average national grid power output declined sharply by 12.8% to 3,628MW/h due to gas constraints at Olorunsogo and Afam stations. The recent intermittent power supply has increased the demand for diesel which is used to power generators. The side effect of a possible increase in diesel demand is its impact on transportation and distribution costs of domestic commodities and crops.
Commodity prices which had been muted and declining are expected to increase as the planting season commences in April – May.
The attached document contains a synopsis of the global and domestic developments in the commodities market this week.
Enjoy your read!